Jotun torn between USA and EU in Iran conflict

The USA’s decision to reintroduce severe sanctions against Iran puts Norwegian Jotun, as well as many European businesses, into a difficult squeeze between the US and the EU.

Several of the US sanctions against Iran were introduced on Tuesday.President Donald Trump has announced that foreign companies dealing with Iran will also be affected.

“We are committed to complying with the sanctions, but this is very complicated,” said communications manager Kari-Ellen Liverød of the paint manufacturer Jotun to Aftenposten newspaper.

The problem for Jotun and other exporters is that the EU deplores the US reintroduction of Iran sanctions. The EU is threatening to punish companies that follow the American orders.

The EU is determined to protect European economic interests in legal interactions with Iran. Companies will be able to receive compensation for the financial losses they suffer because of the sanctions.

“We must constantly assess what this means for us, and our lawyers are working on it now,” said Liverød at Jotun.

DNV GL, formerly known as Det Norske Veritas, also has offices in Tehran.The company is following the situation closely,but said US sanctions do not have any direct impact on the business.

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